Budget Bytes: Ignition for Startups

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Wednesday, 1 February 2017

By Anurag Avula,

CEO and Founder, Shopmatic

"It’s agreeable to see positive reforms being proposed in favour of digital pay systems for the

common man, more specifically in rural and semi-urban areas. The move for forming reduction on tax for small and medium enterprises’ is a boost to “The Make in India initiative”, that will encourage the nation to keep in lines with motivational 2017-18 budget theme of Transform, Energize and Clean India.

It’s also great to see improvement on the high speed broadband connection in rural and tier 2 and 3 cities, which further nurtures the country’s tech essence.

What is interesting to note is the government’s interest in start-ups and on energising youth and creating jobs. The Profit linked-deductions for start-ups that has been reduced to 3 years out of 7 years, will certainly ease the process.

It's a good budget for anyone wanting to their business online. With more and more people getting encouraged to use digital payments, merchants will benefit from taking their sites online- since more customers will now, find it easier to buy products from them.

Our platform makes it really easy for people to set up ecomm stores, since we have payments integrated in our site too. Its a win-win for all.

In all its completeness we are quite pleased with the start-up and SME announcements. We believe that the fresh moves made will cultivate the rising upsurge of tech and digital initiatives to further energize the GDP of our nation."